Profit Elusive, but Twitter Gets $3.7 Billion Value

By

Amir Efrati

Updated Dec. 15, 2010 12:01 a.m. ET

The value of Twitter Inc., the website that allows users to send 140-character messages called "tweets," has nearly quadrupled in the past year, according to a new investment made in the San Francisco start-up.

Twitter said Wednesday it raised a round of funding that valued it at $3.7 billion, becoming the latest young Web company in...